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Canterbury Resources Ltd (ASX:CBY)

ALERT: Price-sensitive ASX Announcement for CBY
Current share price for CBY : $0.046 0.013 (39.39%)+
Announcement
Release
29 Apr 2026 8:27AM
Price at Release
$0.033
Full Release
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Summary
Canterbury Resources Limited has announced the commencement of a major drilling program at the Briggs Copper Project in Central Queensland, Australia. This program is part of a Pre-feasibility Study (PFS) and aims to upgrade and expand the current Mineral Resource Estimate (MRE) to support the development of a large-scale, long-life open cut mining operation. The project, managed by JV partner Alma Metals Ltd, will involve drilling 45 diamond core holes totaling approximately 14,000 meters. The drilling will focus on converting Inferred Resources to the Indicated category, testing lateral and depth targets to expand the MRE, and obtaining materials for metallurgical testing. Additionally, environmental baseline studies and early-stage engineering will be conducted in parallel with the drilling program. The Briggs Copper Project is strategically located near Gladstone, with access to significant infrastructure, and the company views it as a potential key contributor to future copper supply.
Key Points
  • Major drilling program commenced at Briggs Copper Project.
  • Aimed at upgrading and expanding current MRE as part of PFS.
  • Project involves drilling 45 diamond core holes (~14,000m).
  • Focus on converting Inferred Resources to Indicated category.
  • Testing lateral and depth targets to expand the MRE.
  • Obtaining material for metallurgical test work.
  • Environmental baseline studies and early-stage engineering conducted in parallel.
  • Located near Gladstone with access to infrastructure.
  • JV partner Alma Metals Ltd managing the project under an Earn-In Agreement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.